MKT 500 Strayer University Fairfoods Company Marketing Plan Assignment 1: Part A: Your Marketing Plan Due Week 3 and worth 200 points For this assignment

MKT 500 Strayer University Fairfoods Company Marketing Plan Assignment 1: Part A: Your Marketing Plan

Due Week 3 and worth 200 points

For this assignment, you will document your hypothetical company’s background information and mission statement, your company’s short- and long-term goals, an environmental analysis, and a SWOT analysis.

Note: You should create and/or make all the necessary assumptions needed for the completion of this assignment.

Instructions

Create the first part of your marketing plan:

Write an introduction to your company. Describe your hypothetical company, its location, and the product it makes or the service it provides, and introduce the contents of your marketing plan.
Develop your company’s mission statement.
Decide the main goals that you would like to achieve within the next year (short term) and the main goals that you would like to achieve within the next five years (long term). Determine the most appropriate ways to measure both short- and long-term goals.

Note: Consider the following metrics: tracking downloads of website content, website visitors, increases in market share, customer value, new product /service adoption rates, retention, rate of growth compared to the competition and the market, margin, and customer engagement.

Develop an environmental analysis that includes competitive, economic, political, legal, technological, and sociocultural forces.
Develop both a SWOT analysis and needs analysis for your product/service. Each analysis should examine three strengths, weaknesses, opportunities, and threats for your company.
Use at least three academic resources as quantitative marketing research to determine the feasibility of your product/service. These resources should be industry-specific and relate to your chosen product/service.

Note: Wikipedia and other Websites do not qualify as academic resources.

Your assignment must follow these formatting requirements:

Be typed, double-spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length of 8 to 12 pages.

The specific course learning outcomes associated with this assignment are:

1. Analyze marketing environments and strategies used to strengthen product or service positioning.

a. Evaluate data and information on customer/consumer behavior.

b. Evaluate marketing research tools involved in the marketing process.

c. Examine the marketing science of customer behavior and products in the marketing exchange process.

2. Evaluate the marketing strategies used to create/communicate customer value.

a. Analyze the marketing framework through a situation analysis.

3. Create an effective marketing plan.

a. Develop recommendations based on market analysis and strategy.

b. Develop strategies to assess performance and achieve marketing goals.

c. Develop dynamic strategies for competing.

Grading for this assignment will be based on answer quality, logic/organization of the paper, and language and writing skills, using the following rubric found here. Assignment 1: Part A: Your Marketing Plan
Due Week 3 and worth 200 points
For this assignment, you will document your hypothetical company’s background information and mission statement,
your company’s short- and long-term goals, an environmental analysis, and a SWOT analysis.
Note: You should create and/or make all the necessary assumptions needed for the completion of this assignment.
Instructions
Create the first part of your marketing plan:
1. Write an introduction to your company. Describe your hypothetical company, its location, and the product it makes or the
service it provides, and introduce the contents of your marketing plan.
2. Develop your company’s mission statement.
3. Decide the main goals that you would like to achieve within the next year (short term) and the main goals that you would
like to achieve within the next five years (long term). Determine the most appropriate ways to measure both short- and
long-term goals.
Note: Consider the following metrics: tracking downloads of website content, website visitors, increases in market
share, customer value, new product /service adoption rates, retention, rate of growth compared to the competition and
the market, margin, and customer engagement.
1. Develop an environmental analysis that includes competitive, economic, political, legal, technological, and sociocultural
forces.
2. Develop both a SWOT analysis and needs analysis for your product/service. Each analysis should examine three
strengths, weaknesses, opportunities, and threats for your company.
3. Use at least three academic resources as quantitative marketing research to determine the feasibility of your
product/service. These resources should be industry-specific and relate to your chosen product/service.
Note: Wikipedia and other Websites do not qualify as academic resources.
Your assignment must follow these formatting requirements:
•
•
Be typed, double-spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and
references must follow APA or school-specific format. Check with your professor for any additional instructions.
Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and
the date. The cover page and the reference page are not included in the required assignment page length of 8 to 12 pages.
The specific course learning outcomes associated with this assignment are:
1. Analyze marketing environments and strategies used to strengthen product or service positioning.
a. Evaluate data and information on customer/consumer behavior.
b. Evaluate marketing research tools involved in the marketing process.
c. Examine the marketing science of customer behavior and products in the marketing exchange process.
2. Evaluate the marketing strategies used to create/communicate customer value.
a. Analyze the marketing framework through a situation analysis.
3. Create an effective marketing plan.
a. Develop recommendations based on market analysis and strategy.
b. Develop strategies to assess performance and achieve marketing goals.
c. Develop dynamic strategies for competing.
Grading for this assignment will be based on answer quality, logic/organization of the paper, and language and writing
skills, using the following rubric found here.
Running head: PART A: MARKETING PLAN YOUR COMPANY NAME
Part A: ABC Marketing Plan (Change to your name of business here)
Your Name
MKT500 Marketing Management
Strayer University
Dr. Lisa Amans
Date submitted
1
PART A: MARKETING PLAN
2
Introduction (note this is not bold)
Write an introduction to your company. Describe your hypothetical company, its location
(why did you choose this location), and the product it makes or the service it provides, and
introduce the contents of your marketing plan.
Mission Statement
Develop your company’s mission statement (do not confuse a mission statement with a
tag line, slogan, or positioning statement). Also, your mission statement should resonate with
your consumers/customers as well as with your employees and stakeholders – remember to see
the purpose of a mission statement and rationalize yours. Do not just state a mission statement
without rational – answer why. See textbook, page 21.
Goals
Write an introduction to this section here (minimum of three sentences). Note, your goals
should be realistic, practical, and SMART (i.e., S. – specific; M. – measurable; A. – assignable;
R. – realistic; and T. – time based). What does your company need to accomplish in the short
and long term; consider revenue and profit goals?
Short Term
Text starts here – Decide the main goals that you would like to achieve within the next
year (short term). Determine the most appropriate ways to measure short term goals. Note:
Consider the following metrics: tracking downloads of Website content, Website visitors,
increases in market share, customer value, new product adoption rates, retention, rate of growth
compared to competition and the market, margin, and customer engagement. For information on
Website analytics, visit Google Analytics at http://www.google.com/analytics/why/
Long Term
PART A: MARKETING PLAN
3
Decide the mains goals that you would like to achieve within the next five (5) years (long
term). Determine the most appropriate ways to measure long term goals. Note: Consider the
following metrics: tracking downloads of Website content, Website visitors, increases in market
share, customer value, new product adoption rates, retention, rate of growth compared to
competition and the market, margin, and customer engagement. For information on Website
analytics, visit Google Analytics at http://www.google.com/analytics/why/
Environmental Analysis
Develop an environmental analysis that includes competitive, economic, political, legal,
technological, and sociocultural forces. Include an introduction of these elements. Write an
introduction to this section (minimum of three sentences). See textbook pages 45-51.
Competitive Analysis
Competitive analysis here – (who is the competition – direct and indirect, why do you
consider them to competition, what do they do well, what might be a weakness?).
Economic Analysis
Economic analysis here – (Through this factor, businesses examine the economic issues
that are bound to have an impact on the company. This would include factors like inflation,
interest rates, economic growth, the unemployment rate and policies, and the business cycle
followed in the country).
Political and Legal Analysis
Political and legal analysis here. Separate the topics if you have significant analysis.
(Political and Legal: Here government regulations and legal factors are assessed in terms of their
ability to affect the business environment and trade markets. The main issues addressed in this
section include political stability, tax guidelines, trade regulations, safety regulations, and
PART A: MARKETING PLAN
4
employment laws).
Technological Analysis
Technological analysis here – (How technology can either positively or negatively impact
the introduction of a product or service into a marketplace is assessed here. These factors include
technological advancements, lifecycle of technologies, the role of the Internet, and the spending
on technology research by the government).
Sociocultural Forces Analysis
Sociocultural forces here – (With the social factor, a business can analyze the socioeconomic environment of its market via elements like customer demographics, cultural
limitations, lifestyle attitude, and education. With these, a business can understand how
consumer needs are shaped and what brings them to the market for a purchase).
SWOT and Needs Analysis
Develop both a SWOT analysis and needs analysis for your product. Each analysis
should examine three (3) each of strengths, weaknesses, opportunities, and threats for your
company. Suggestion is to write an introduction (minimum of three sentences) and create a
SWOT table (use APA formatting, label Table 1, etc.). Include an analysis, not just the table.
Rationalize why you choose these SWOT elements. See textbook page 21.
Table 1
SWOT Analysis
Strengths
• Short bullet
• Xxxx
• xxxx
Opportunities
• Short bullet
• Xxxx
• xxxx
Weaknesses
• Short bullet
• Xxxx
• xxxx
Threats
• Short bullet
• Xxxx
• xxxx
PART A: MARKETING PLAN
5
Note: Strengths, weaknesses, opportunities, and threats for xxxx company.
Strengths
Include three strengths and explain the importance (think features and benefits to
customer). Strengths are internal; what you can control.
Weaknesses
Include three weaknesses and impact to the business and/or customer. Weaknesses are
internal; what you can control.
Opportunities
Include three opportunities and explain the importance (think features and benefits to
customer). Opportunities are external; what is happening outside your company you can take
advantage of such as new technology.
Threats
Include three threats and impact to the business and/or customer. Threats are external;
what is happening outside your company that will impact your business such as new government
policies or laws.
Conclusion
Summarize the plan to this point (minimum of three sentences) and you should not
include any new thoughts (just summary).
PART A: MARKETING PLAN
6
References (note this is centered and not bold and on a separate page)
Use at least three (3) academic resources as quantitative marketing research to determine
the feasibility of your product / service. Three academic references are proficient. In order to
receive most points as exemplary, submit four or more.
These academic resources should be industry specific and relate to your chosen product /
service. Quality, academic references are peer-reviewed and found in scholarly journals
published in the last 5 years. A good way to incorporate is by using Journal of Marketing, as an
example, for your theories and consumer behavior observations.
Newspapers, magazines, and other Websites do not qualify as academic resources and
although you should reference if you use, they do not count towards your minimum.
Listing your references without applying them in your text (citations) is not acceptable!!!
See proper formatting in APA hints on page 7 of this document.
PART A: MARKETING PLAN
7
Tips and APA Formatting (delete this from your paper)
Below are tips and notes to guide you writing an APA paper. Use this information as a
reference and ask if you have any questions.
Tips and Notes:
1. NEVER plagiarize: Plagiarism: act of using someone else’s ideas, words, figures, unique
approach, or specific reasoning without giving appropriate credit.
2. Always include an introduction for your Heading 1 topic (example: Environmental
Analysis) to explain to the readers what they learn in the section you are introducing.
3. Paragraphs should be complete, such as a minimum of three sentences:
a. “Put only one main idea per paragraph.
b. Aim for three to five or more sentences per paragraph.
c. Include on each page about two handwritten or three typed paragraphs.
d. Make your paragraphs proportional to your paper. Since paragraphs do less work in
short papers, have short paragraphs for short papers and longer paragraphs for longer
papers.
e. If you have a few very short paragraphs, think about whether they are really parts of a
larger paragraph—and can be combined—or whether you can add details to support
each point and thus make each into a more fully developed paragraph.”
(https://owl.english.purdue.edu/owl/resource/606/02/ )
f. http://blog.apastyle.org/apastyle/2011/12/the-long-and-the-short-of-it.html
g. http://arc.aje.com/editing-tip-sentence-length/
4. Don not use (or minimize):
a. they (minimize, pronouns, use actual names/titles for clarity)
b. these
c. there are
d. thing
e. it
f. this
g. I
h. we
i. you
j. one or ones
k. some
l. a lot
m. a ton
n. really
o. very
5. Use of contractions – spell out
6. Use of conjunctions: https://owl.english.purdue.edu/owl/resource/598/1/ An
independent marker word is a connecting word used at the beginning of an independent
clause. These words can always begin a sentence that can stand alone. When the second
PART A: MARKETING PLAN
8
independent clause in a sentence has an independent marker word, a semicolon is needed
before the independent marker word.
Ex. Jim studied in the Sweet Shop for his chemistry quiz; however, it was hard to
concentrate because of the noise.
a. Some common independent markers are: also, consequently, furthermore, however,
moreover, nevertheless, and therefore.
7. Findings: are past tense
8. Use of italics: https://owl.english.purdue.edu/engagement/2/1/45/ : only Italicize the titles
of magazines, books, newspapers, academic journals, films, television shows, long
poems, plays, operas, musical albums, works of art, websites.
APA Guidelines:
1.
2.
3.
4.
5.
6.
7.
•
•
•
•
•
•
•
American Psychological Association (2010). Publication manual of the American
Psychological Association (6th ed.). Washington, DC: Author.
APA Website: www.apastyle.org
Updated APA guideline notes on ELCSE website under Student Resources
(http://www.aug.edu/elcse/ELCSE_APA_Guidelines.pdf)
Sample paper – guideline to Headers:
https://owl.english.purdue.edu/owl/resource/560/01/
Numbers: https://owl.english.purdue.edu/owl/resource/560/01/
Formatting Tables and Figures
https://owl.english.purdue.edu/owl/resource/560/19/
https://owl.english.purdue.edu/owl/resource/560/20/
How to cite: https://owl.english.purdue.edu/owl/resource/560/01/
Paraphrasing within text:
o In a 1989 article, Gould explores some of Darwin’s most effective metaphors.
Author cited in text:
o Gould (1989) attributed Darwin’s success to his gift for making the appropriate
metaphor.
Author not cited in text:
o As metaphors for the workings of nature, Darwin used the tangled bank, the tree
of life, and the face of nature (Gould, 1989).
Multiple works within the same parenthesis:
o Several studies (Balda, 1980; Kammil, 1988; Pepperberg & Funk, 1990) confirm
the use of metaphors increases learning.
First citation in text:
o Wasserstein, Zappula, Rosen, German, and Rock (1994) found. . .
o The use of metaphors was found to be helpful (Wasserstein, Zappula, Rosen,
German, & Rock, 1994)
Subsequent citations (3 or more authors):
o Wasserstein and colleagues (1994) found
o Wasserstein et al. (1994) found
o The use of metaphors was found to be helpful (Wasserstein et al., 1994)
Authors With the Same Last Name: To prevent confusion, use first initials with the
last names.
PART A: MARKETING PLAN
8.
9.
10.
•
•
•
•
•
•
9
o (E. Johnson, 2001; L. Johnson, 1998)
Direct quote from author: (use sparingly):
a. Gould (1989) explains that Darwin used the metaphor of the tree of life “to
express the other form of interconnectedness-genealogical rather than ecologicaland to illustrate both success and failure in the history of life” (p.14).
Direct quote without name of author:
a. Darwin used the metaphor of the tree of life “to express the other form of
interconnectedness-genealogical rather than ecological” (Gould, 1989, p.14).
References:
References are listed on separate page, header is centered, do not bold
Notice no first names used, only initials and in alphabetical order.
Only citations that appear in the text should appear on the reference page
Everything cited in the text should appear on the reference page.
References are double-spaced, flush left with subsequent lines indented 5 spaces
Examples:
o Online Periodicals General format:
Author, A. A. (date). Title of article. Title of Journal, volume(number),
page numbers. doi: xx.xxxxxxx
o Example:
Herbst-Damm, K. L., & Kulik, J. A. (2005). Volunteer support, marital
status, and the survival times of terminally ill patients. Health
Psychology, 24, 225-229. doi: 10.1037/0278-6133.24.2.225
o
Book General format:
Author, A. A., Author, B. B., & Author, C. C. (year of publication). Title
of work: Capital letter also for subtitle (number ed.). Location
City, State Abbreviation: Publisher.
o Example:
Anderson, A. B., Smith, S. D., & Jones, J. C. (1978). A distant mirror:
The calamitous fourteenth century (3rd ed.). New York, NY:
Knopf.
•
DOIs are unique strings of numbers used to identify online articles’ content and
provide a persistent link to their location on the Internet.
o When DOIs are present, no longer have to include URL.
o When DOIs are not present, include URL
o https://owl.english.purdue.edu/owl/resource/560/01/
o Finding DOIs: http://www.crossref.org
o Example without a DOI:
Sillick, T. J., & Schutte, N. S. (2006). Emotional intelligence and selfesteem mediate between perceived early parental love and adult
happiness. Applied Psychology, 2(2), 38-48. Retrieved from
http://ojs.lib.swin.edu.au/index.php/ejap
3/26/2020
MKT500009VA016-1204-001
Name
MKT500 Week 3 Assignment 1: Part A: Your Marketing Plan
Description
MKT500 Week 3 Assignment 1: Part A: Your Marketing Plan
Rubric Detail
Levels of Achievement
Criteria
1. Write an
introduction to
your company.
Describe your
hypothetical
company, its
location, and the
product it makes
or the service it
provides, and
introduce the
contents of your
marketing plan.
Weight
10.00%
2. Develop your
company’s
mission
statement.
Weight
10.00%
3. Decide the
main goals that
you would like
to achieve
within the next
year (short term)
and the mains
goals that you
would like to
achieve within
the next five
years (long
term). Determine
the most
appropriate
ways to
measure both
short- and longterm goals.
Weight
10.00%
Unacceptable
Below 70% F
Fair 70-79% C
Proficient 80-89%
B
Exemplary 90100% A
0.00 to 69.00 %
70.00 to 79.00 %
80.00 to 89.00 %
90.00 to 100.00 %
Did not submit or
incompletely
wrote an
introduction to
the company. Did
not submit or
incompletely
described the
hypothetical
company, its
location, and the
product it makes
or the service it
provides, and the
contents of the
marketing plan.
Partially wrote an
introduction to the
company. Partially
described the
hypothetical
company, its
location, and the
product it makes or
the service it
provides, and the
contents of the
marketing plan.
Satisfactorily
wrote an
introduction to the
company.
Satisfactorily
described the
hypothetical
company, its
location, and the
product it makes
or the service it
provides, and the
contents of the
marketing plan.
Thoroughly wrote
an introduction to
the company.
Thoroughly
described the
hypothetical
company, its
location, and the
product it makes
or the service it
provides, and the
contents of the
marketing plan.
0.00 to 69.00 %
70.00 to 79.00 %
80.00 to 89.00 %
90.00 to 100.00 %
Did not submit or
incompletely
developed your
company’s
mission
statement.
Partially developed
your company’s
mission statement.
Satisfactorily
developed your
company’s
mission statement.
Thoroughly
developed your
company’s
mission statement.
0.00 to 69.00 %
70.00 to 79.00 %
80.00 to 89.00 %
90.00 to 100.00 %
Did not submit or
incompletely
decided the main
goals to achieve
within the next
year (short term)
and the mains
goals to achieve
within the next
five years (long
term). Did not
submit or
incompletely
determined the
most appropriate
ways to measure
both short- and
long-term goals.
Partially decided the
main goals to
achieve within the
next year (short
term) and the mains
goals to achieve
within the next five
years (long term).
Partially determined
the most
appropriate ways to
measure both shortand long-term
goals.
Satisfactorily
decided the main
goals to achieve
within the next
year (short term)
and the mains
goals to achieve
within the next five
years (long term).
Satisfactorily
determined the
most appropriate
ways to measure
both short- and
long-term goals.
Thoroughly
decided the main
goals to achieve
within the next
year (short term)
and the mains
goals to achieve
within the next five
years (long term).
…
Purchase answer to see full
attachment